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Canada's GDP rises 3.3 percent in 2010

04-29-2011 09:57 BJT

OTTAWA, April 28 (Xinhua) -- Canada's real gross domestic product (GDP) rose 3.3 percent in 2010, following a 2.6-percent decline in the previous year, Statistics Canada announced on Thursday.

Every province and territory recorded an increase in the year, especially in sectors like construction, mining, oil and gas extraction, and manufacturing.

Among the provinces, growth rates surpassed the national average in Newfoundland and Labrador, Alberta and British Columbia, while Ontario matched the national rate. GDP increased by 8.9 percent in Nunavut, the fastest pace of any region.

In the mineral and oil concentrated provinces of Newfoundland and Labrador and Alberta, GDP advanced 4.8 percent and 4.0 percent, respectively.

The U.S. economy's sharp slowdown due to rising gas prices, the increasingly strong loonie, as well as the inflation pressure both at home and aboard have added clouds to Canada's economic outlook in 2011, according to Statistics Canada.

The Canadian dollar has soared to 1.055 U.S. dollars overnight on broad-based weakness in the U.S. dollar, the highest level since November 2007.

 

Editor:Du Xiaodan |Source: Xinhua

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